OCBC has been active in supporting reauthorization of the Export Import Bank to help with critical export and trade development. In addition to grassroots efforts, OCBC advocated for this legislation during its recent DC trip. The Senate followed the House in recently approving the reauthorization bill, preventing Ex-Im Bank’s expiration on May 31. Since the financial collapse in 2008, the bank has taken on a much more ambitious role in facilitating U.S. exports overseas. Failure to reauthorize the bank’s operations would have seriously disadvantaged U.S. companies in foreign markets. The Ex-Im Bank supported more than $40 billion in U.S. exports over the past 70 years, and has helped create 290,000 jobs.
For more information contact Kate Klimow, Vice President of Government and Community Affairs.